Storch succeeds Miller as Supervalu chairman

January 13th, 2014

MINNEAPOLIS – The board of directors of Supervalu Inc. has elected Gerald Storch to the position of non-executive chairman.

He succeeds Robert Miller, who had served as chairman since March 2013 and who had previously announced he would step down to focus on other demands. Miller is chief executive officer of Boise, Idaho-based Albertsons LLC.

Storch most recently was chairman and CEO of Storch Advisors, a consulting firm. From 2006 to 2013, he was chairman and CEO of Toys "R" Us. Prior to that, he was vice chairman of Target Corp., where he oversaw development of Target’s online business, its grocery business and the Target Financial Services credit card business.

"We are thrilled to have Jerry Storch as our new non-executive chairman of the Supervalu board of directors," said director Phil Francis. "Jerry’s tremendous experience in food and specialty retailing makes him especially well-qualified for this role.

"At the same time, we are very grateful to Bob Miller, who is truly a giant in the retail grocery industry, for his service on the Supervalu board of directors. The board will continue to consult with Bob as a non-paid advisor to the board as we move forward, and we are both pleased and fortunate that Bob is willing to assist in this capacity."